When we talk about estate planning, many people immediately associate it with the ultra-rich. However, contrary to popular belief, anyone can benefit from having an estate plan no matter what their net worth is. According to Forbes, only 42% of the adults in the United States currently have an estate plan such as a living trust or a will.
While end-of-life planning can be depressing and seem morbid, it is essential to protect you, your assets, and your loved ones after you die. If you haven’t started drafting your estate planning documents yet, consider the following reasons why it is essential to talk to an estate law attorney as soon as possible to get the process started:
If a person dies without an estate plan, the matter of distribution of assets is passed on to the courts who handle everything from the distribution of the property, the dissolution of the business, and the guardianship of the children. The process is known as probate, and it can get seriously complicated and expensive. By preparing the documentation in advance, you can save your family and loved ones from numerous complications and legal issues after your death.
Keep Your Children from Ending Up in Child Protective Services
It might be unpleasant to think about your death, but it is essential to take some time and consider what would happen to your children if you suddenly died. Where will they end up? Who will take care of them?
If you don’t have an estate plan that clearly mentions a guardian that you have chosen, your children will end up with Child Protective Services, while the courts decide the best candidate to be their legal guardians. The process can take a long time, and your kids could end up with someone who would be your last choice for a guardian. Staying with protective services for a long time can also have a negative emotional impact on your child during a very vulnerable time in their life.
Not everyone cares about what happens to their wealth and assets after they have passed. However, not leaving an estate plan can result in huge disputes between family members regarding who gets what. This can create strong feelings of ill will between relatives and even break up families. By planning your estate documents, you save your family from making difficult decisions and eliminate the risk of any disputes by making the decision for them.
Get Legal Advice from Leading Estate Lawyers In New York
One of the best ways to avoid complications with your estate after your death is to hire an experienced estate lawyer to draw up the correct documents for you.
Ledwidge & Associates P.C. offers the services of leading estate law attorney Queens, estate law attorney Brooklyn, Manhattan, Long Island, and the Bronx. We can help you protect your assets from exorbitant inheritance tax and ensure that your loved ones will be well taken care of through living wills and detailed estate planning documents.
Schedule a free case evaluation by calling us at 718-276-6656 and let us help you plan for your future!
Saul Goodman, Attorney at Law, has long been people’s favorite on-screen lawyer—maybe only rivaled by the good old Denny Crane and Tom Hagen. The protagonist of the Breaking Bad spinoff, Better Call Saul, Saul is a quirky, witty, and level-headed on-screen lawyer.
As a fictional character representing a real-life profession, would Saul Goodman stand the test of time?
Most Accurate Legal Show on Television?
Viewers have been smitten with the on-screen portrayal of this attorney and his forays into “elder law”—and, later, with criminal law. But how accurate is this show, as far as the portrayal of lawyers is concerned?
Surprisingly, Better Call Saul has been called the most accurate legal show on television. Real lawyers did sit down to watch the show and gave it an A- for realism. We at the Law Offices of Joseph A. Ledwidge, P.C. are inclined to agree. It’s a pretty great show for the following reasons.
Realistic Court Life
The courts in Better Call Saul aren’t the romanticized, glamorized, theatrical scenes for sensational drama. They’re monotonous, daunting, and quite frankly, kind of boring—as they are in real life. We also get to see Saul struggle in public courts as a public defender, surviving pay cheque to pay cheque. It isn’t easy being a lawyer and dealing with public courts—and Better Call Saul does an excellent job of depicting that.
Part of what makes Saul Goodman so good is his prowess with convincing anyone with his words. Saul opens his defense with the masterful working of the jury: starting with the bad, and quickly leaving them behind. His focus is on depicting his clients as humans capable of erring—and capable of learning from their mistakes. Real-life attorneys, too, do focus on humanizing their clients.
Realistic Elder Law
In the show, Saul Goodman starts off as someone who helps seniors make their wills—kind of like a probate lawyer, just not as extensive in scope. While his dealings with these seniors are fun and, at times, hilarious, the whole Sandpiper case is also very realistically portrayed. For those who haven’t seen the show, Sandpiper is a large senior care facility overcharging its clients without their knowledge. When Saul finds out he turns it into a case of fraud, and is able to pursue it—over several seasons. And that’s what makes it accurate. Legal negotiations take a long time to work out—it’s a bureaucratic process. Life doesn’t work like Primal Fear courtrooms and back alleys.
Looking for a Real-Life Lawyer Working Elder Law?
If you’ve been interested in family law, elder law, or probate services after watching this excellent show, you can reach out to us at the Law Offices of Ledwidge & Associates, P.C. online. We offer Family Law Services Queens, Family Law Services Brooklyn and in other areas of New York.
And don’t worry about the dividing of your estates, chalking up of your will, or answering your beneficiaries. Like Saul Goodman so often says: ‘s all good, man. Better Call Us!
Okay, maybe we went a little overboard with the NOW, but you do need a probate lawyer—sooner better than later. One day you will need your estates, assets, and other particulars to be sorted out.
Imagine not taking the right step at the right time for your posthumous affairs and all potential candidates end up fighting among themselves. But this isn’t Game of Thrones—and you have probate lawyers who can help you with the entire legal process.
What a Probate Lawyer Does
As a legal representative who has been licensed by the state to advise you on your legal particulars, probate lawyers can smoothen out an otherwise drawn-out process. If you die without a will, this complicates things for a probate lawyer.
Whether you need help with securing and assessing states or writing your will, a probate lawyer is there for you. Seniors usually find it hard to deal with the hassles involved in a legal process. There’s too much paperwork and jargon to deal with. A probate lawyer means you don’t need to worry about these trifles now. You can go about your affairs while your lawyer will take care of the more complicated matters.
Everything We Take Care Of
If you think helping you write your will is the only thing probate lawyers help you with, think again. There’s a lot more that goes into the process, including:
- File your will with the relevant local court
- Procure appraisals for your property and other assets
- File tax returns for deceased clients
- Identify and determine beneficiaries
- Help resolve any disputes related to your assets
Overall, a process that is otherwise difficult and even bitter for you becomes easier. You don’t have to worry about ensuring you’re making the right choices and not meting out anyone any wrongs. It’s the lawyer’s job now.
Creditors, Beneficiaries, and Others
The beneficiaries will have questions. In the rare off-chance that everyone gets along (and people rarely do), you might have an easier time. Most of these cases, however, require legal counsel to make the process easier.
Usually, beneficiaries are often concerned about things that, if resolved now, won’t become an obstacle later on. Your lawyer can keep these beneficiaries in the loop by regularly sending them letters and emails. Any questions that they have can be sorted out right now. If you are sending these communications yourself (as many clients opt to do), you can ask your probate lawyer to go over them for you.
Where Can You Find a Probate Lawyer?
Where else but right here? Reach out to our associates at the Law Offices of Ledwidge & Associates, P.C. You can plan a consultation with a Probate lawyer Brooklyn, Probate lawyer Queens in person if you’re in New York. We operate in the Queens, Brooklyn, Manhattan, Long Island, and Bronx areas.
Preparing for the end of your life sounds challenging, but it’s something that you should do, notwithstanding. Having a well-thought-out will is not just essential for seniors but for the youth too. Life is uncertain. The best you can do for your children is to plan your estate carefully and intelligently.
Let’s cover the basics of estate planning:
Make a list of your belongings.
To get started with your estate planning, you need to begin to itemize your inventory or belongings. This may take a few days. Grab a paper and pen and start looking around for all the tangible and intangible assets you own. After you’ve enlisted the assets, you should also mention their estimated market value, date of purchase, purchase price, appraisal and valuation reports, and the number of years it’s been with you.
Your tangible assets may include real estate, property, homes, precious metals, ornaments, jewelry, antique collectibles, trading cards, cars, motorcycles, and boats. Intangible assets mostly comprise your investments, receivables, and bank accounts. Common examples of intangible assets include retirement plans (IRAs), savings accounts, mutual funds, stocks, bonds, certificates of deposits, treasury bills, and business ownership. When you’re enlisting these items, write down account details and the company/institution where your investments are held.
Consider Your Family’s Needs.
Your estate planning will also revolve around some important family decisions. If your children are still young, you need to name a guardian and backup guardian (if the primary guardian doesn’t survive). This will ensure that your children are taken care of and help avoid costly court fights. You don’t need to assume that your immediate relatives will share your child-rearing goals. Document your childcare-related wishes as explicitly as you can.
If you’ve remarried and don’t name a guardian, the child’s custody automatically goes to the surviving biological parent. If you’re not on good terms with your ex-spouse and don’t want this to happen, specify it in the will.
Review the Beneficiaries.
When you’re writing your will, don’t leave any beneficiary sections blank. In this case, when the will goes through probate, the assets will be distributed according to the estate laws. We also recommend contingent beneficiaries that get the property if the primary beneficiary dies before you do.
If you’ve remarried, you might want to update the beneficiary list. Let’s say your ex-spouse is still a beneficiary on your life insurance policy; your current spouse will not get a penny from the policy payout. The same goes for your retirement account. Keep track of and update the beneficiary designations as needed.
The last step is to select an estate executor who will in charge of administering the last testament. Choose someone competent, responsible, and possesses good decision-making ability. Your spouse isn’t always the best choice, especially if losing you takes a toll on their emotional well-being.
If the process sounds complicated, we recommend seeking help from a well-qualified estate and probate lawyer. If you’re based in Brooklyn, Queens, or Manhattan, and are looking for Queens Probate lawyer or Brooklyn Probate lawyer there is no better option than the law office of Ledwidge & Associates, P.C. We have over 20 years of experience in handling complex probate cases. You can contact online or give us a call at 347-395-4799 to arrange a consultation with an experienced New York probate attorney.
When a loved one passes away, their estate will need to be managed. However, doing so successfully can become far more complex where titles to real estate exist. We take a closer look at why probate law in New York State can cause controversy among beneficiaries and how executors can go about closing an estate in NY properly.
Insufficient Asset Gathering
Many estate litigation cases have come about as the result of information coming to light regarding real estate ownership that executors or beneficiaries weren’t previously aware of. In these instances, thorough asset gathering would have helped avoid conflict.
It is the job of the executor to ensure that absolutely all of the deceased’s assets have been discovered, gathered, and kept in a safe place. This part of estate administration can require a lot of legwork and time.
However, in doing so, an executor can completely reduce or eliminate further complications. No longer will it be possible for family members to assume ownership of property because enough information has been gathered and secured properly.
Real estate ownership can exist in many forms. The deceased may have been the sole owner of the real estate in question or may have owned property with another. Ownership can also exist in shared form, such as joint tenancy of a property. Types of ownership, including joint tenancies, won’t result in any ownership being passed to beneficiaries.
While this can certainly result in confusion and controversy among estate beneficiaries, closer investigation into the type of ownership and the New York state beneficiary laws that govern them can help avoid unwanted surprises.
Real estate is a high-value item, which can also cause controversy. In a separation, for example, it will be important for the deceased to have stated their intent for the property clearly. Otherwise, an ex-spouse may assume they have full ownership when they do not. This kind of misunderstanding can result in much disappointment once the time comes to execute the will.
Of course, even before a loved one passes away, ensuring that both parties in the relationship have clearly discussed what will happen to real estate upon their deaths can provide the details an executor of estate in New York needs to fulfill their responsibilities.
Help with Estate Administration
Although it is the executor’s job to ensure a deceased loved one’s assets are properly identified, secured, and distributed, the amount of work involved can be overwhelming. It is in these cases that additional help can offer many benefits.
If you’re the executor of an estate, you can research probate law to discern whether or not you’ll need help to administrate the estate. If you’re finding the probate process difficult to navigate, contact the estate administration attorneys at Ledwidge & Associates, P.C. We put a combined 32 years of probate and estate administration experience to work for you. Call (718) 276-6656 for a consultation.
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